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CSPAN
Jan 31, 2013 9:00am EST
. the debt ceiling increased the authority to borrow more money -- increase, the authority to borrow more money is all about future spending, which is part of the reason why some of us think this is a very sensible moment to try to bring some discipline to that future spending. and what would happen if we don't raise the debt ceiling right away? well, if we don't, we would have to have a 25% cut in all government spending, and that's -- that's pretty massive. that's pretty problematic. now, the administration and some actually go way overboard in the threats that they attach to this. they threaten to inflict the maximum possible economic damage if the debt ceiling isn't raised promptly upon the point at which they run out of their maneuvering room. so you hear threats about default on our debt and senior citizens won't get their social security check and our military folks won't get paid, all kinds of the most disruptive, most damaging and most dangerous kinds of outcomes are threatened by the administration. now, this is unnecessary, this isn't true, this isn't what would happen, but the
CSPAN
Jan 25, 2013 6:00am EST
of this committee routinely voted to raise the debt ceiling during those years even though the money for the tax cuts and the wars was put on emergency basis for the purpose of hiding the costs. so i'm pleased that we're coming around to a more reasonable position today, and i hope that we're going to find a common path forward on many of these issues. mr. johnson, you state in your testimony that low unemployment depresses tax revenue, and this is the mayor reason for -- major reason for our current deficits and why they're so large. once the economy recovers fully and the unemployment rate is lowered, it certainly will take some of the pressure off of these discussions. acknowledging there are long-term challenges we have to address. i've opinion making this point inside of my own -- i've been making this point inside of my own caucus not to overreact to the situation we find ourselves, and if we could find that point forward that i referenced, we'd find you could have a conversation that would be worthwhile past the political talking points. now, getting americas back to work should be the nu
Search Results 0 to 1 of about 2